Some General Results on Equilibrium Prices in Large Random Exchange Economies

被引：0
|
作者：
Mukul Majumdar
Vladimir Rotar
机构：
[1] Cornell University,Department of Economics
[2] San Diego State University,Department of Mathematical and Computer Sciences
[3] Russian Academy of Sciences,Central Economics and Mathematics Institute
来源：
Annals of Operations Research | 2002年 / 114卷
关键词：
random preferences and endowments; exchange economy; equilibrium prices; asymptotic normality;
D O I：
暂无
中图分类号：
学科分类号：
摘要：
In this paper we are concerned with a model of a Walrasian exchange economy in which the preferences and endowments of the agents are random. Stochastic interaction among the agents is formally described in terms of dependency neighborhoods. The main result concerns a characterization of the distribution of market-clearing equilibrium prices in a large economy. The paper establishes conditions for asymptotic normality of appropriately normalized equilibrium prices.
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页码：245 / 261
页数：16
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